Soltworks Co., Ltd. (KOSDAQ:A230980) agreed to acquire 71.43% stake in Kat Co., Ltd. from Yongeui Jung for KRW 10 billion on December 8, 2017. The offer per share is 186,665. The deal value is payable in cash. A deposit of KRW 1 billion will be made on December 8, 2017 while the rest of the amount of KRW 9 billion will be made on December 31, 2017. The deal value will be funded with retained cash and borrowings. For the year ending December 31, 2016, Kat reported total assets of KRW 21.6 billion, total capital of KRW 10.5 billion, sales of KRW 23.7 billion and net profit of KRW 325 million. The Board of Directors of Soltworks passed a resolution on the deal on December 8, 2017. The deal is expected to close on December 31, 2017. Hyundai Accounting Corporation acted as external rating institution. Soltworks Co., Ltd. (KOSDAQ:A230980) completed the acquisition of 71.43% stake in Kat Co., Ltd. from Yongeui Jung on December 20, 2017. The balance amount of KRW 9 billion was paid on December 20, 2017.